Bitcoin (BTC) is attempting to recover in a market hit by selling pressure, struggling to surpass the $40,000 mark. Notably, some smaller altcoins are outperforming major players. Early data indicates significant drops for both Bitcoin and Ethereum (ETH), following reduced excitement over potential spot Bitcoin ETF approvals.
Bitcoin has slightly rebounded after falling below $39,000, currently trading around $40,000 with a 0.64% decrease over the last 24 hours. BTC’s trading volume has declined by 1.99% to $30.19 billion. Ethereum has seen a 5.11% drop to $2,222, but its trading volume has increased by 21.76% to $16.59 billion.
Other leading altcoins are also experiencing declines. Solana (SOL) has fallen by 2% to $84.05, though its trading volume rose by 19.62% to $3.14 billion. Ripple’s XRP dropped by 2.82% to $0.5158, with a 25.92% increase in trading volume to $1.41 billion.
Cardano (ADA) is down by 3.72% to $0.4665, but its trading volume has surged by 26.13% to $557.39 million. Dogecoin (DOGE) decreased by 3.29% to $0.07833, while Shiba Inu (SHIB) fell by 8.35% in price.
The overall market downturn has brought the Crypto Fear and Greed Index from a “Greed” level of 73 last week to a “Neutral” signal at 48. Two altcoins, Akash Network (AKT) and Blur (BLUR), have resisted the market slump, rising by 14% and 8.88%, respectively, despite the general bearish trend.